Biocon shareholders approve issue of bonus shares

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Biocon, Indian biopharmaceutical major, announced that the shareholders have approved the issue of bonus share on Thursday.

The company in its BSE filling said that the board of directors have fixed Saturday, June 17, 2017 as the record date to determine the eligible shareholders entitled to the bonus equity share.

The stock of the company on the BSE is trading at Rs 1,005 per share higher by Rs 7.30 per share or 0.7%. The stock is among the contributors to the BSE Healthcare index. The index is up by 0.3%, trading at 14002 at 0945 hours.

The stock has delivered 37% returns in an one year period and has outperformed the BSE Mid Cap and BSE Healthcare index over the same time period.

Stock view :-
Biocon Ltd is currently trading at Rs 1011.05, up by Rs 12.55 or 1.26% from its previous closing of Rs 998.5 on the BSE.
The scrip opened at Rs 1005 and has touched a high and low of Rs 1012.8 and Rs 1003.55 respectively. So far 282491(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 19970 crore.
The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 1188 on 25-Apr-2017 and a 52 week low of Rs 689 on 19-Jul-2016. Last one week high and low of the scrip stood at Rs 1008.5 and Rs 948 respectively.
The promoters holding in the company stood at 60.68 % while Institutions and Non-Institutions held 21.43 % and 16.12 % respectively.
The stock is currently trading below its 100 DMA.

Biocon Ltd :-
BSE 1,012.15 13.65 (1.37%)
NSE 1,011.90 14.15 (1.42%)

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